Online Shop, The Fancy has received a sum of $53 million from investors. This round of funding was led by American Express Co, billionaire Len Blavatnik and actor Will Smith, reports Sarah Frier of Bllomberg.The company has a list of items, which is pooled in only by the customers. The total worth of the company is $600 million, which is not disclosed by the company as it is purely confidential.
This round of funding will bring in expansion of the company located in New York. The company specializes in selling retail products such as; shower heads, flasks or other utility products required for consumers. The revenue of the company amounts to $3 million each month, all thanks to the web portal. The funding also adds to another year of successful startups being established in New York.
The Fancy site works in a unique manner; because all its goods and products are posted by users, who have searched the web, for various goods. If anybody likes a particular product or service they can hit on ‘fancy’ and it will reflect in the home page of the website. Thus, if any person likes these products; they can place an order for the same, reports Bloomberg.